Crisis in the oil industry

1. Crisis in the oil industry

KUZMENKO NIKITA 3733802/02602

2.

The prolonged epidemic suspends trade and cooperation
between partners from different countries. This has a
negative impact on production. Many companies will
soon have to seriously restructure their production chains.
And this is associated with high costs, risks and other
difficulties, so there will be a significant decline in
production volumes.The decline in manufacturing activity
has already affected industries such as automotive,
mechanical engineering and electrical engineering.
According to Vladislav Belov, Deputy Director of the
Institute of Europe of the Russian Academy of Sciences,
big risks also threaten the pharmaceutical industry. 88%
of substances for the European pharmaceutical industry
are supplied from China. European leaders and business
representatives have already stated the need to create
production of substances in Europe.

3.

the pharmaceutical industry-is a branch of the economy that
develops, manufactures, and distributes medicines.
Suspends- to stop
Automotive-a branch of industry that produces trackless vehicles,
mainly with internal combustion engines.
Substance-material